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Economic Commentary

Reserve Borrowings and the Money Market

One of the functions of the Federal Reserve System is to provide loans to depository institutions (generally, banks) in each district through what is figuratively known as the “discount window.”

The views authors express in Economic Commentary are theirs and not necessarily those of the Federal Reserve Bank of Cleveland or the Board of Governors of the Federal Reserve System. The series editor is Tasia Hane. This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License. This paper and its data are subject to revision; please visit for updates.

Suggested Citation

Mugel, Richard. 1985. “Reserve Borrowings and the Money Market.” Federal Reserve Bank of Cleveland, Economic Commentary 11/1/1985.